Presentation on Intuitive Robotics
- 1. Intuitive SurgicalTeam 4:Asad ButtCristina PedrozaDinesh KurianEszterHamoriJoel Samen
- 2. What is the da Vinci Robot?
- 3. AgendaIntuitiveIndustryAnalysisOutlookRecommendationsPictures of the da Vinci robot were borrowed from the Intuitive website.
- 4. Da Vinci as a Disruptive TechnologyPerformanceMinimally invasive surgery, or conventional MISTraditional, open surgeryTimeNow
- 5. Intuitive’s (Relatively) Quick AscentToday1980s19992000FDA Approved; First Robot for Laparoscopic SurgeryPrototype Developed by Stanford for a U.S. Army ContractMore Than 1,676 Units Installed in More Than 1,500 Centers WorldwideIntroduced da Vinci Robothttp://www.intuitivesurgical.com.
- 6. Intuitive’s Solid Financial GrowthNASDAQIntuitive Surgical* 2010/2009Source: ww.sec.gov
- 8. Intuitive isthe IndustryBargaining Power of SuppliersBargaining Power of CustomersThreat of New EntrantsThreat of Substitute ProductsCompetitive Rivalry in IndustryLow ThreatHeavy Competition Between Part MakersIntuitive Builds Robots ItselfMedium ThreatHospitals Can Stick with Traditional SurgeryHigh Cost of Machines a ConsiderationMedium ThreatCompetitors Entering SoonOpportunity for Intuitive to Further DifferentiateHigh ThreatMany Surgeons Prefer TraditionLaparoscopicStill an OptionVery Low ThreatNo Other FDA Approved Surgical Robot in Market Currently
- 10. The Early Bird Catches the WormChannel and LocationInputCardica (CRDC)Luna Technologies, Inc.CapacityNot Available to Many New EntrantsSwiss Precision MachiningHigh TechCapital IntensiveOnce in a Hospital, No Room for Another Robotic Surgical Platform
- 11. The of Learning…Surgical ProceduresLearning CurveEndometrial Cancer – case-matched control study (122 patients)40 min. decrease in average operating time61% less blood loss53% reduction days in hospitalValue of DataTeaching/Learning/Best Practiceshttp://seekingalpha.com/article/264371-intuitive-surgical-s-ceo-discusses-q1-2011-results-earnings-call-transcript
- 12. ...Also Takes Place at HomeManufacturing ProcessManaging EfficiencyCellular layout: continues flow assembly lineSub-assembled parts delivered to WIP stationsEliminating stock roomKanban implementation Web based B2B replenishments systems CRM integrationhttp://www.themanufacturer.com/us/profile1848/Intuitive_Surgical
- 14. Spending Money to Make MoneyMillions Spent Creating and Marketing da VinciTo Leverage Costs:Continue to InnovatePrevent Incumbent InertiaDevelopment of Key TechnologiesEducation of BuyersDeveloping Supporting InfrastructureInvesting in Complementary ProductsMaintain Product LeadershipCreate Lock-In
- 15. Team Practice Makes PerfectEdmondson et al. Speeding up team learning. Harvard Business Review (2001) vol. 79 (9) pp. 125-134
- 16. Intuitive’s First Mover UncertaintiesNew MarketMore Technically Capable New EntrantHighly Uncertain DemandHigh Cost of New TechnologyExcess Capacity?Current Capacity vs. New Products?Inputs for Ultrasounds and EKG 3D Displays,High-Tech Console
- 18. Poised to Maintain Industry LeadershipIncreased SalesMore Sales in U.S. Market
- 19. Expand Overseas
- 20. Marketing Increase to Hospitals, Surgeons, and Potential PatientsMore Hospitals with DevicesMore Surgeons Using DevicesMore Patients Want SurgeriesMore Surgeries with Devices
- 21. Poised to Maintain Industry Leadership
- 22. Going After New SurgeriesNew InstrumentsSimulatorCurrently used in general…Expand to other common surgeriesLong Tail of Surgeries
- 23. Intuitive Continually Updates3D HDDual Console
- 24. Continue to InnovateTechnological LeadershipR&D 8% RevenuePatentsLow to Medium RiskPatent ExpirationCompetitionPatent Variations on da Vinci
- 25. Coming Soon: RivalsFive Years OutThe Enemy: Sofie
- 29. Users Trained as Leaders for ChangeSupplement TrainingTeam LearningChange ManagementCommunityMedical Conferences
- 30. Web ResourcesNew Versions Create Value for HospitalsResearch and DevelopmentIncrease Longevity of InstrumentsFaster Set-Up TimesUse for Other SurgeriesFDA Approval on Marketing Message
- 31. Greatest Asset: Information on Surgical Techniques
- 32. Open Platform to Speed Up Innovation
- 33. Improve Data Collection Reduces Cost of Errors
- 34. New Platform: Video Telestration with Experts
- 35. Explore Licensing Deals with Hospitals
- 36. Questions?
- 37. Appendix - FinancialsConsolidated Statements of Income information (in millions)Source: www.sec.gov